member firm

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Member firm

Used for listed equity securities. Brokerage firm that has at least one membership on a major stock exchange even though, by exchange rules, the membership in the name of an employee and not of the firm itself.

Member Firm

A broker-dealer firm in which at least one of the principal officers is allowed to trade on the floor of an exchange. To become a member, one needs to purchase a membership or a seat on the exchange, which can be very expensive. There are usually a set number of memberships to an exchange; for example, on the New York Stock Exchange, there are 1,366 seats, which may cost up to $1 million each, and which may be bought or sold to different firms. Most exchanges do not recognize member firms, only individual members; that is, they consider members to be the brokers or dealers on the floor, rather than the firms they represent.

member firm

A securities firm with officers or partners who are members of an organized securities exchange. National brokerage firms are generally members of a number of organized exchanges. Organized exchanges have established standards of conduct and financial conditions. See also ABC Agreement.

Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.

References in periodicals archive ?

Andersen Global is an international association of legally separate, independent member firms comprised of tax and legal professionals around the world.

Andersen Global partners with Bahrain consultancy

In the Middle East and South Asia (MESA) region, member firms reported aggregated revenue growth of 17.2pc (in local currencies) for the fiscal year.

KPMG global revenues grow to $29bn

WINNERS have emerged at the 2018 NSE CEO Awards, a platform put together by the Nigerian Stock Exchange (NSE) since 2012 to reward and motivate listed companies, dealing member firms, fund managers and issuing houses to attain higher levels of corporate governance, compliance and performance that reinforce investor confidence in the Nigerian capital market.

Nigerian Breweries, Seplat, FBNQuest, Others Emerge Winners At NSE CEO Awards

Over one hundred delegates from KPMG member firms across the MESA region, as well as members of KPMG's Global and Europe, Middle East and Africa (EMA) leadership teams are coming together to discuss regional strategy.

KPMG Holds Its 17th MESA Partners' Conference in the Kingdom of Bahrain

The protocol lets representatives of member firms take a limited amount of client information when leaving one protocol member firm for another.

The Skinny on the Broker Recruiting Protocol

KPMG in the Middle East and South Asia (MESA) reported 12.7 per cent growth in aggregated revenues of member firms across the region for the fiscal year ended 30 September 2017.

KPMG MESA enjoys strong growth in FY2017

Established in 2013 by US member firm Andersen Tax LLC, Andersen Global now has more than 2,500 professionals worldwide and a presence in over 78 locations through its member firms and collaborating firms.

Andersen Global Continues Expansion in Switzerland with Acquisition of Reviglobal

Since the beginning of 2017, the Building Congress has added 125 new member firms to its ranks.

500th member at NYBC

With more than 155 Member Firms in 40 states, the United Kingdom, and the United Arab Emirates, M Financial Group is one of the nation's financial services design and distribution companies.

M Financial Group names new president & CEO

One of the things that makes working with Your House Counsel and its member firms so rewarding is the caliber of people in the organization.

The Insurance Industry Is Changing -- Are You Changing With It?

Also noteworthy about M's business model is our governing structure: We're owned solely by the member firms. They are the company's stockholders; we have no outside investors.